Mahasagar travels Limited has announced an inter se transfer of shares among its promoter group members, as disclosed to BSE Limited on February 21, 2026. The transaction involves the internal restructuring of shareholding between promoter and promoter group entities under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Details

The proposed share transfer encompasses specific parameters that demonstrate the internal nature of this corporate restructuring:

Regulatory Compliance

The transaction falls within the exemption framework established by SEBI regulations. Specifically, it qualifies under Regulation 10(1)(a)(ii) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as the acquirer has been a promoter of the company for not less than three years prior to the proposed acquisition.

Key compliance aspects include:

• The transfer occurs between promoter and promoter group members
• No open offer requirement due to exemption provisions
• Aggregate promoter group shareholding remains unchanged
• All disclosure requirements under Chapter V have been fulfilled

Shareholding Impact

The inter se transfer will result in specific changes to individual shareholding patterns while maintaining overall promoter group control:

Corporate Structure

Mahasagar Travels Limited, incorporated in 1993 with CIN L63040GJ1993PLC020289, operates from its registered office at Jayshree Talkies Road, Kalwa Chowk, Junagadh, Gujarat. The company maintains its listing on BSE Limited under scrip code 526795 and scrip ID MHSGRMS.

The transaction represents a strategic internal reorganization that consolidates shareholding within the promoter group while ensuring compliance with all applicable regulatory frameworks and disclosure requirements.

Mahasagar Travels Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, demonstrating a notable recovery in quarterly performance despite facing challenges over the longer nine-month period. The Gujarat-based company, which operates in the travel and petroleum retail sectors, presented these results following a board meeting held on February 11, 2026.

Quarterly Financial Performance

The company's Q3FY26 results showed a strong turnaround with significant improvements across key financial metrics. The quarterly performance reflected the company's ability to navigate operational challenges and deliver positive results.

Nine-Month Performance Analysis

While the quarterly results were encouraging, the nine-month performance presented a contrasting picture. The company faced headwinds during the extended period, resulting in a net loss for the nine months ended December 31, 2025.

Segment-wise Business Performance

Mahasagar Travels operates through two primary business segments, each contributing differently to the overall financial performance. The segmental analysis provides insights into the operational dynamics of the company's diversified business model.

Tours & Travels Segment:

• Q3FY26 Revenue: ₹550.55 lacs vs Q3FY25: ₹532.41 lacs
• Segment Result: ₹40.40 lacs profit vs ₹21.79 lacs in previous year
• Nine-month Revenue: ₹1519.91 lacs vs ₹1517.14 lacs

Petrol Pump Segment:

• Q3FY26 Revenue: ₹385.78 lacs vs Q3FY25: ₹385.53 lacs
• Segment Result: ₹0.81 lacs vs ₹3.53 lacs in previous year
• Nine-month Revenue: ₹1147.55 lacs vs ₹1152.25 lacs

Cost Structure and Operational Metrics

The company's expense management showed mixed results during the quarter. Major expense categories included cost of materials consumed at ₹432.32 lacs, fuel expenses of ₹220.96 lacs, and other operational costs totaling ₹402.71 lacs. Employee benefit expenses decreased to ₹29.70 lacs from ₹41.83 lacs in the corresponding quarter of the previous year.

Corporate Governance and Compliance

The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors. The statutory auditors, B H Advani & Associates, conducted a limited review of the unaudited financial results without any qualifications or modifications. The company maintains its paid-up equity share capital at ₹786.35 lacs with a face value of ₹10.00 per share.